I am hoping to receive a offer of a home loan from Santander. My intention is to retain the legal services of a Licensed Conveyancer in Woodthorpe. Does the Santander Solicitor panel include conveyancers regulated by the CLC?
The Santander conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
It has been five months since my purchase conveyancing in Woodthorpe took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Woodthorpe differ for new build properties?
Most buyers of new build premises in Woodthorpe approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is finished. This is because builders in Woodthorpe typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Woodthorpe or who has acted in the same development.
Taking into account that I will soon part with over three hundred thousand on a terraced house in Woodthorpe I wish to talk to a solicitor regarding thetransaction prior to appointing the firm. Can this be arranged?
Absolutely - it is our preference to talk to you we do not take any clients on without you liaising with the solicitor who will be carrying out your conveyancing in Woodthorpe.There is no ‘factory style conveyancing’ - every client is unique person, not a case number. The law firms that we put you in touch with believe that the figure you are provided with for your conveyancing in Woodthorpe should be the figure that you are charged.
I am a negotiator for a long established estate agent office in Woodthorpe where we see a few flat sales jeopardised as a result of short leases. I have received contradictory information from local Woodthorpe conveyancing firms. Can you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Woodthorpe - Examples of Queries Prior to buying
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You will want to find out as much as you can about the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day issues such as the tidiness of the communal areas. Don't be afraid to ask other tenants if they are happy with them. On a final note, be sure you understand the dates that you are obliged pay the maintenance charge to the managing agents and specifically what it includes. If a Woodthorpe lease has less than 80 years it will have adverse implications on the value of the flat. Check with your mortgage company that they are happy with remaining years on the lease. A short lease means that you will almost definitely require a lease extension at some point and you need to have some idea of what this would cost. Remember, in most cases you would be be obliged to have owned the property for two years before you are eligible to carry out a lease extension. Does the lease have onerous restrictions?
I'm selling a property in Woodthorpe. I have found my conveyancer's company on the CLC list, but I can't find my lawyer's name as listed on the regulator's website. Is this a big problem?
Not every individual in the practice must be listed by the regulator. Provided there is someone qualified to 'oversee' the conveyancing, the actual day-to-day activity can be undertaken by unlicensed staff.